Acquisitions (Tables)

6 Months Ended

Jul. 31, 2019

Business Combinations [Abstract]

Summary of Fair Value of Assets Acquired and Liabilities Assumed at Acquisition Date

The following table summarizes the fair value of the assets acquired and liabilities assumed as of the October 1, 2018 acquisition date (in thousands):

Assets Acquired and Liabilities Assumed	Fair Value
Cash and cash equivalents	$	3,848
Trade receivables		370
Inventories		14,552
Prepaid expenses and other current assets		2,325
Property, plant and equipment		179
Other non-current assets		6,500
Goodwill		77,542
Trade name and other intangibles		28,928
Total assets acquired		134,244
Accounts payable		5,982
Accrued liabilities		9,018
Other non-current liabilities		7,064
Total liabilities assumed		22,064
Total purchase price	$	112,180

Summary of Unaudited Pro Forma Information

The following table provides the Company’s unaudited pro forma net sales, net income and net income per basic and diluted common share as if the results of operations of the MVMT brand had been included in the Company’s operations commencing on February 1, 2018, based on available information relating to operations of the MVMT brand. This pro forma information is not necessarily indicative either of the combined results of operations that actually would have been realized by the Company had the MVMT brand acquisition been consummated at the beginning of the period for which the pro forma information is presented, or of future results.

	Three Months Ended July 31,				Six Months Ended July 31,
	2019		2018		2019		2018 (1)
(In thousands, except per share data)	(Unaudited)				(Unaudited)
Net sales	$	157,816	$	155,697	$	304,365	$	295,261
Net income		17,505	$	7,353	$	21,430	$	6,734
Basic income per share:
Net income per share attributable to Movado Group, Inc.	$	0.76	$	0.32	$	0.93	$	0.29
Diluted income per share:
Net income per share attributable to Movado Group, Inc.	$	0.75	$	0.31	$	0.92	$	0.29

(1) Includes non-recurring transaction costs of $7.0 million associated with the acquisition.  

Summary of Changes in Carrying Amount of Other Intangible Assets

The changes in the carrying amount of other intangible assets during the six months ended July 31, 2019 are as follows (in thousands): 

	Trade names			Customer relationships			Other (1)			Total
Weighted Average Amortization Period (in years)	10			7			7
Balance, January 31, 2019	$	34,771		$	12,181		$	1,231		$	48,183
Additions		—			—			99			99
Amortization		(1,865	)		(1,001	)		(188	)		(3,054	)
Foreign exchange impact		(531	)		(648	)		(54	)		(1,233	)
Balance, July 31, 2019	$	32,375		$	10,532		$	1,088		$	43,995

(1) Other includes fees paid related to trademarks and non-compete agreement related to Olivia Burton brand.